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Excerpts of the Problem:

The financials statements at the end of Atlas Realty's first month of operations .....

Instructions:

1. By analyzing the interrelationships among the four financial statements, determine the proper amounts from (a) through (q).

PR 2-6B Missing amounts from financial statements OBJ. 3 The financial statements at the end of Atlas Realty's first month of operations are shown below. Atlas Realty Income Statement For the Month Ended May 31, 2014 $400,000 Fees earned. Expenses: Wages expense Rent expense Supplies expense Utilities expense. Miscellaneous expense. Total expenses Net income $ (a) 48,000 17,600 14,400 4,800 288,000 $ (b) Atlas Realty Statement of Owner's Equity For the Month Ended May 31, 2014 LuAnn Martin, capital, May 1, 2014 Investment on May 1, 2014. Net income for May $ (c) $ (d) (e) (f) (g) $ Less withdrawals. Increase in owner's equity LuAnn Martin, capital, May 31, 2014 (h) (0) $ Assets Atlas Realty Balance Sheet May 31, 2014 Liabilities $123,200 Accounts payable 12,800 Owner's Equity 0) LuAnn Martin, capital..... (k) Total liabilities and owner's equity.... Cash Supplies Land Total assets $48,000 (0) $ $ (n) (252,800) $ (0) Atlas Realty Statement of Cash Flows For the Month Ended May 31, 2014 Cash flows from operating activities: Cash received from customers Deduct cash payments for expenses and payments to creditors..... Net cash flows from operating activities Cash flows from investing activities: Cash payments for acquisition of land. Cash flows from financing activities: Cash received as owner's investment. Deduct cash withdrawal by owner Net cash flows from financing activities Net increase (decrease) in cash and May 31, 2014, cash balance. (120,000) $ 160,000 (64,000) (p) (9) Instructions By analyzing the interrelationships among the four financial statements, determine the proper amounts for (a) through (9)